The Atlanta Business Chronicle reported this week that Ten 10th Street has a $71.4 Million loan secured by the 13-story building, known as Millennium in Midtown (I don’ t think I ever knew that was the name of it!) which has been transferred to mortgage servicing .
The building faces financial challenges after it lost its anchor tenant, PricewaterhouseCoopers, LLP to 1075 Peachtree (12th and Midtown). The story says it will take up to $7 Million to release the space! Yikes!
Another prominent tenant is Google which occupies 32,000 sq ft. on a lease that is set to expire in 2013.
The building was built ten years ago, banking on office space demand for the telecom boom. When PricewaterhouseCoopers moved 800+ people in then, it was a deal that gave Midtown a boost. And it looks like it needs another boost.
Ten 10th Street is located at the corner of 10th and West Peachtree Streets, across from Aqua Condominiums.